Kyung Nam Pharm Co.,Ltd. announced a private placement of 7th Bearer Type Interest Part Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 5,000,000,000 on July 17, 2023. The transaction will include participation from new investor Spatial Investments Inc. for KRW 4,200,000,000, new individual investors Jeong Miyeon for KRW 500,000,000, Lee Jun-min for KRW 200,000,000 and Jeon, Gye Soo for KRW 100,000,000. The bonds will carry 5% Surface Interest Rate, 5% yield to maturity rate, will mature on August 7, 2026 and will be 100% convertible into 3,107,520 common shares of the company at a fixed conversion price of KRW 1,609 per share from August 7, 2024 to July 31, 2026.

The transaction has been approved by the board of directors of the company. The payment date is on August 7, 2023.